MOSCOW— The annexation of Crimea will only temporarily distract Russians from worrying about the economy, a respected economist said, suggesting a rally in President Vladimir Putin's ratings may not last.

The standoff with the United States and the European Union over the Black Sea region has won Putin support at home but Western sanctions and capital withdrawals by nervous investors are expected to damage the economy.

A weaker rouble, leading to inflation, and slower growth may eventually hurt Russian budgets, and voters could turn on the ruling elite, Mikhail Dmitriev, of the Moscow-based Center for Strategic Research think tank, said.

"If there is no economic growth it is likely that the influence of Crimea and other foreign policy events on political ratings won't be long-lasting," Dmitriev, who predicted mass protests against Putin in 2011-2012 said in an interview.

"The population will start to look at politics from the point of growing economic struggles."

Dmitriev was beaten and had his laptop stolen by unidentified people last week. It is unclear whether the attack was related to his work and sometimes forthright views.

While many Russians are proud of the stance that Putin has taken on the majority ethnic Russian region, some are wary of the impact on the economy and recall the financial crisis of 1998 when Russia devalued the rouble and defaulted on its debt.

Inflation soared and shop shelves emptied as Russian stocked up on essential food items and millions lost their life savings as banks collapsed. Russians took to the streets in protest and President Boris Yeltsin fired his prime minister.

However, Dmitriev said it would be a while before Putin's popularity was affected.

"For now, the situation in Crimea is to the fore and is shaping the population's political mood," he said. "But when it comes to long-term preferences, economic conditions are absolutely dominant and people's attitude towards the Russian authorities in the end will depend on the economic situation."

On Wednesday, the World Bank warned that the Russian economy could shrink by 1.8 percent in 2014 and the country could see record capital outflows of $150 billion if the crisis over Crimea deepens.

Alexander Rubtsov at the Institute of Philosophy at the Russian Academy of Sciences says events such as the annexation of Crimea have "the champagne effect" — a rapid, but short-lived high which — is often followed by a "hangover."

Putin's approval ratings have soared to a five-year high of more than 75 percent after Russia hosted the winter Olympics and since he claimed back Crimea, 60 years after the region was handed to Ukraine by Soviet leader Nikita Khrushchev.

He dominates the political scene in Russia, and his grip on power is strengthened by a loyal parliament and pliant media. His term expires in 2018.

The wave of patriotism and euphoria in the state media have drowned out news about a weakening economy, where growth fell to 1.3 percent last year from 3.4 percent in 2012.

Most analysts see the economy ministry's forecast for 2.5 percent in 2014 as wildly optimistic.

Shares on the local stock exchange, once seen by some in the political elite as a centerpiece for Moscow's transformation into a financial center to rival New York and London, lost some $70 billion this month as investors pulled out of Russia.

EU and U.S. visa bans and asset freezes on Russian officials and businessmen over Crimea have worsened capital flight and weakened the rouble, which is down 8 percent against the dollar this year, putting pressure on consumer price inflation.

"If problems with Russian exports arise it may create difficulties over serving corporate debt, [and] put additional negative pressure on the rouble," said Dmitriev, a former first deputy economy minister under Putin.

The external debt of Russian corporations stands at more than $650 billion, according to the central bank, making firms and the Western financial system closely interconnected but still leaving room for a spike in borrowing costs.

Last week, Fitch ratings agency revised Russia's outlook to negative, warning that foreign investors may be reluctant to lend to Russia with the economy slowing further and the private sector requiring support.

Russian gold and foreign exchange reserves stood at $493.2 billion last week, down $16.4 billion since the end of 2013, mostly due to the central bank's market interventions to curb the rouble's fall.

"In theory, if further developments in Ukraine are accompanied by military confrontation ... Russia may face a serious worsening in external trade conditions and investments, leading to an economic crisis which may be accompanied with a no less serious sequel in terms of domestic political situation," Dmitriev said.

Manned deep space missions are still a long way off, but space agencies are already testing procedures, equipment and human stamina for operations in extreme environment conditions. Small groups of astronauts take turns in spending days in an underwater lab, off Florida’s southern coast, simulating future missions to some remote world. VOA’s George Putic reports.

Video

Manned deep space missions are still a long way off, but space agencies are already testing procedures, equipment and human stamina for operations in extreme environment conditions. Small groups of astronauts take turns in spending days in an underwater lab, off Florida’s southern coast, simulating future missions to some remote world. VOA’s George Putic reports.

Video

Fifty years ago, lawmakers approved, and U.S. President Lyndon Johnson signed, the Voting Rights Act of 1965. The measure outlawed racial discrimination in voting, giving millions of blacks in many parts of the southern United States federal enforcement of the right to vote. Correspondent Chris Simkins introduces us to some civil rights leaders who were on the front lines in the struggle for voting rights.

Video

Billions of dollars of so-called ‘dirty money’ from the proceeds of crime - especially from Russia - are being laundered through the London property market, according to anti-corruption activists. As Henry Ridgwell reports from the British capital, the government has pledged to crack down on the practice.

Video

Ottawa, Illinois, is the hometown of W.D. Boyce, who founded the Boy Scouts of America in 1910. In Ottawa, where Scouting remains an important part of the legacy of the community, the end of the organization's ban on openly gay adult leaders was seen as inevitable. VOA's Kane Farabaugh reports.

Video

Artificial limbs, including the most complex of them – the human hand – are getting more life-like and useful due to constant advances in tiny hydraulic, pneumatic and electric motors called actuators. But now, as VOA’s George Putic reports, scientists in Germany say the future of the prosthetic hand may lie not in motors but in wires that can ‘remember’ their shape.

Video

A British pro-democracy group has accused Russia of abusing the global law enforcement agency Interpol by requesting the arrest and extradition of political opponents. A new report by the group notes such requests can mean the accused are unable to travel and are often unable to open bank accounts. VOA's Henry Ridgwell reports.

Video

Talks on a major new trade agreement among 12 Pacific Rim nations are said to be nearing completion in Hawaii. Some trade experts say the "positive atmosphere" at the discussions could mean a deal is within reach, but there is still hard bargaining to be done over many issues and products, including U.S. drugs and Japanese rice. VOA's Jim Randle reports.

Video

Earth is in the midst of its sixth mass extinction. The last such event was caused by an asteroid 66 million years ago. It killed off the dinosaurs and practically everything else. So scientists are in a race against time to classify the estimated 11 million species alive today. So far only 2 million are described by science, and researchers are worried many will disappear before they even have a name. VOA’s Rosanne Skirble reports.

Video

Scientists have long been trying to develop an effective protection and cure for malaria - one of the deadliest diseases that affects people in tropical areas, especially children. As the World Health Organization announces plans to begin clinical trials of a promising new vaccine, scientists in South Africa report that they too are at an important threshold. George Putic reports, they are testing a compound that could be a single-dose cure for malaria.

Video

The latest issue of 'New York' magazine features 35 women who say they were drugged and raped by film and television celebrity Bill Cosby. The women are aged from 44 to 80 and come from different walks of life and races. The magazine interviewed each of them separately, but Zlatica Hoke reports their stories are similar.

Video

The United States is promising not to give up its fight against what Secretary of State John Kerry calls the “scourge” of modern slavery. Officials released the country’s annual human trafficking report Monday – a report that’s being met with some criticism. VOA’s National Security correspondent Jeff Seldin has more from the State Department.

Video

Abandoned more than 50 years ago, the underground streetcar station in Washington D.C.’s historic DuPont Circle district is about to be reborn. The plan calls for turning the spacious underground platforms - once meant to be a transportation hub, - into a unique space for art exhibitions, presentations, concerts and even a film set. Roman Mamonov has more from beneath the streets of the U.S. capital. Joy Wagner narrates his report.

Video

Greece has replaced Italy as the main gateway for migrants into Europe, with more than 100,000 arrivals in the first six months of 2015. Many want to move further into Europe and escape Greece’s economic crisis, but they face widespread dangers on the journey overland through the Balkans. VOA's Henry Ridgwell reports.

Video

After the closure of a major rubbish dump a week ago, the streets of Beirut are filling up with trash. Having failed to draw up a plan B, politicians are struggling to deal with the problem. John Owens has more for VOA from Beirut.

Video

A U.N. climate conference in December aims to produce an ambitious agreement to fight heat-trapping greenhouse gases. But many local governments are not waiting, and have drafted their own climate action plans. That’s the case with Paris — which is getting special attention, since it’s hosting the climate summit. Lisa Bryant takes a look for VOA at the transformation of the French capital into an eco-city.